Losses widen at Nanoco, but group optimistic about future

Nanoco, a University of Manchester spin-out company, said the loss was as a result of lower joint development revenues and higher payroll and other operational costs associated with commercialising its technology in the display market.

Revenues for the year to the end of July were £1.43m, down from £3.93m last year, while pre-tax loss was £9m, up from £5m.

Nanoco, a University of Manchester spin-out company, said the loss was as a result of lower joint development revenues and higher payroll and other operational costs associated with commercialising its technology in the display market.

During the year, the group entered into a partnership with worldwide licensing partner The Dow Chemical Company, which will begin construction of the world’s first, large-scale cadmium-free manufacturing plant in South Korea using Nanoco’s patented technology and with production to begin in the first half of next year.

In the meantime Nanoco commissioned two new Semi-Tech lines - giving it a total of four lines at The Heath Business and Technical Park in Runcorn.

These production lines are used to produce large quantities of high quality sample materials for the display industry.

Nanoco said it expects that initial commercial orders for Nanoco quantum dots will be manufactured and delivered from the Runcorn facility until Dow’s commercial production plant comes on line.

Anthony Clinch, Nanoco’s chairman, said: “Dow’s recent announcement that it would begin construction of the world’s first large-scale cadmium-free quantum dot manufacturing plant using our technology marked a major milestone in the commercialisation of our quantum dots, which have the compelling competitive advantage of being cadmium-free.

" Commercialisation of our technology in the display market remains our primary focus but we also continue to make significant progress in all applications.

“We look forward with confidence to the year ahead, during which time we expect to announce further material progress.”